Halozyme Therapeutics (NASDAQ:HALO) Stock Rating Reaffirmed by Benchmark

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $50.00 price target on the biopharmaceutical company's stock. Benchmark's price target would indicate a potential upside of 30.28% from the company's previous close.

Other research analysts also recently issued reports about the stock. TheStreet downgraded shares of Halozyme Therapeutics from a "b-" rating to a "c+" rating in a report on Monday, January 22nd. HC Wainwright raised their price target on shares of Halozyme Therapeutics from $48.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. The Goldman Sachs Group cut their price target on shares of Halozyme Therapeutics from $45.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday, January 18th. StockNews.com raised shares of Halozyme Therapeutics from a "hold" rating to a "buy" rating in a report on Friday, February 23rd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.29.

Halozyme Therapeutics Stock Performance

HALO traded down $0.34 on Tuesday, hitting $38.38. The company's stock had a trading volume of 642,294 shares, compared to its average volume of 1,285,641. The company's 50 day simple moving average is $39.39 and its 200-day simple moving average is $37.76. The firm has a market cap of $4.88 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 0.46 and a beta of 1.25. Halozyme Therapeutics has a 12 month low of $29.85 and a 12 month high of $45.00. The company has a quick ratio of 5.50, a current ratio of 6.64 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. The firm had revenue of $230.04 million during the quarter, compared to the consensus estimate of $235.25 million. Analysts forecast that Halozyme Therapeutics will post 3.33 EPS for the current year.

Insider Buying and Selling

In related news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $39.55, for a total value of $395,500.00. Following the transaction, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,191,868.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of large investors have recently added to or reduced their stakes in HALO. Rise Advisors LLC purchased a new position in shares of Halozyme Therapeutics in the first quarter valued at about $25,000. Advisory Services Network LLC increased its position in shares of Halozyme Therapeutics by 50.5% in the first quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 303 shares during the period. Principal Securities Inc. purchased a new position in shares of Halozyme Therapeutics in the fourth quarter valued at about $34,000. Belpointe Asset Management LLC increased its position in shares of Halozyme Therapeutics by 42.0% in the first quarter. Belpointe Asset Management LLC now owns 1,238 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 366 shares during the period. Finally, Harbour Investments Inc. purchased a new position in shares of Halozyme Therapeutics in the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.